Corporate ESG Profiles and Investor Horizons

The Limits of Arbitrage

Shleifer, A., & Vishny, R. W. (1997) · The Journal of Finance · doi:10.1111/j.1540-6261.1997.tb03807.x · Cited by 5,291 · see citing works

The impact of corporate sustainability on organizational processes and performance

Eccles, R. G., Ioannou, I., & Serafeim, G. (2014) · Management Science · doi:10.1287/mnsc.2014.1984 · Cited by 4,104 · see citing works

Aggregate Confusion: The Divergence of ESG Ratings

Berg, F., Kölbel, J. F., & Rigobon, R. (2022) · Review of Finance · doi:10.1093/rof/rfac033 · Cited by 3,444 · see citing works

Do Investors Care about Carbon Risk?

Bolton, P., & Kacperczyk, M. (2021) · Journal of Financial Economics · doi:10.1016/j.jfineco.2021.05.008 · Cited by 3,380 · see citing works

The Influence of Institutional Investors on Myopic R&D Investment BehaviorPreprint

Bushee, B. J. (1998) · SSRN Electronic Journal · Cited by 3,198 · see citing works

Costly Search and Mutual Fund Flows

Sirri, E. R., & Tufano, P. (1998) · The Journal of Finance · doi:10.1111/0022-1082.00066 · Cited by 3,079 · see citing works

The Importance of Climate Risks for Institutional Investors

Krueger, P., Sautner, Z., & Starks, L. T. (2020) · The Review of Financial Studies · doi:10.1093/rfs/hhz137 · Cited by 3,034 · see citing works

The price of sin: The effects of social norms on markets

Hong, H., & Kacperczyk, M. (2009) · Journal of Financial Economics · doi:10.1016/j.jfineco.2008.09.001 · Cited by 2,601 · see citing works

Efficient Capital Markets, Inefficient Firms: A Model of Myopic Corporate Behavior

Stein, J. C. (1989) · The Quarterly Journal of Economics · doi:10.2307/2937861 · Cited by 2,585 · see citing works

Do institutional investors drive corporate social responsibility? International evidence

Dyck, A., Lins, K. V., Roth, L., & Wagner, H. F. (2019) · Journal of Financial Economics · doi:10.1016/j.jfineco.2018.08.013 · Cited by 2,547 · see citing works

Does the stock market fully value intangibles? Employee satisfaction and equity prices

Edmans, A. (2011) · Journal of Financial Economics · doi:10.1016/j.jfineco.2011.03.021 · Cited by 2,511 · see citing works

Individual and Corporate Social Responsibility

BÉNABOU, R., & TIROLE, J. (2010) · Economica · doi:10.1111/j.1468-0335.2009.00843.x · Cited by 2,237 · see citing works

Sustainable investing in equilibrium

Pástor, Ľ., Stambaugh, R. F., & Taylor, L. A. (2021) · Journal of Financial Economics · doi:10.1016/j.jfineco.2020.12.011 · Cited by 2,226 · see citing works

Corporate Social Responsibility and Firm Risk: Theory and Empirical Evidence

Albuquerque, R. A., Koskinen, Y. J., & Zhang, C. (2018) · Management Science · doi:10.1287/mnsc.2018.3043 · Cited by 2,223 · see citing works

Responsible investing: The ESG-efficient frontier

Pedersen, L. H., Fitzgibbons, S., & Pomorski, L. (2021) · Journal of Financial Economics · doi:10.1016/j.jfineco.2020.11.001 · Cited by 2,103 · see citing works

Does Corporate Social Responsibility Lead to Superior Financial Performance? A Regression Discontinuity Approach

Flammer, C. (2015) · Management Science · doi:10.1287/mnsc.2014.2038 · Cited by 1,949 · see citing works

Socially responsible investments: Institutional aspects, performance, and investor behavior

Renneboog, L. D. R., ter Horst, J., & Zhang, C. (2008) · Journal of Banking & Finance · doi:10.1016/j.jbankfin.2007.12.039 · Cited by 1,772 · see citing works

Do Investors Value Sustainability? A Natural Experiment Examining Ranking and Fund Flows

HARTZMARK, S. M., & SUSSMAN, A. B. (2019) · The Journal of Finance · doi:10.1111/jofi.12841 · Cited by 1,607 · see citing works

The Effect of Green Investment on Corporate Behavior

Heinkel, R., Kraus, A., & Zechner, J. (2001) · The Journal of Financial and Quantitative Analysis · doi:10.2307/2676219 · Cited by 1,498 · see citing works

Hedging Climate Change News

Engle, R. F., Giglio, S., Kelly, B., Lee, H., & Stroebel, J. (2020) · The Review of Financial Studies · doi:10.1093/rfs/hhz072 · Cited by 1,489 · see citing works

Does the Market Value Environmental Performance?

Konar, S., & Cohen, M. A. (2001) · The Review of Economics and Statistics · doi:10.1162/00346530151143815 · Cited by 1,405 · see citing works

Why Do Investors Hold Socially Responsible Mutual Funds?

RIEDL, A., & SMEETS, P. (2017) · The Journal of Finance · doi:10.1111/jofi.12547 · Cited by 1,378 · see citing works

Private Politics, Corporate Social Responsibility, and Integrated Strategy

Baron, D. P. (2001) · Journal of Economics & Management Strategy · doi:10.1111/j.1430-9134.2001.00007.x · Cited by 1,291 · see citing works

Active ownership

Dimson, E., Karakaş, O., & Li, X. (2015) · Review of Financial Studies · doi:10.1093/rfs/hhv044 · Cited by 1,242 · see citing works

Shareholder investment horizons and the market for corporate control

Gaspar, J., Massa, M., & Matos, P. P. (2004) · Journal of Financial Economics · doi:10.1016/j.jfineco.2004.10.002 · Cited by 1,219 · see citing works

Global Pricing of Carbon‐Transition Risk

Bolton, P. G. M., & Kacperczyk, M. T. (2023) · The Journal of Finance · doi:10.1111/jofi.13272 · Cited by 1,035 · see citing works

The Eco-Efficiency Premium Puzzle

Derwall, J., Guenster, N., Bauer, R., & Koedijk, K. (2005) · Financial Analysts Journal · doi:10.2469/faj.v61.n2.2716 · Cited by 965 · see citing works

Institutional Investors and Equity Returns: Are Short-term Institutions Better Informed?

Yan, X. S., & Zhang, Z. (2007) · Review of Financial Studies · doi:10.1093/revfin/hhl046 · Cited by 946 · see citing works

ESG Rating Disagreement and Stock Returns

Brandon, R. G., Krueger, P., & Schmidt, P. S. (2021) · Financial Analysts Journal · doi:10.1080/0015198x.2021.1963186 · Cited by 930 · see citing works

Information Immobility and the Home Bias Puzzle

Nieuwerburgh, S. V., & Veldkamp, L. (2009) · The Journal of Finance · doi:10.1111/j.1540-6261.2009.01462.x · Cited by 918 · see citing works

Environmental disclosures, regulatory costs, and changes in firm value

Blacconiere, W. G., & Patten, D. M. (1994) · Journal of Accounting and Economics · doi:10.1016/0165-4101(94)90026-4 · Cited by 782 · see citing works

Comparing the Post-Earnings Announcement Drift for Surprises Calculated from Analyst and Time Series Forecasts

Livnat, J., & Mendenhall, R. R. (2006) · Journal of Accounting Research · doi:10.1111/j.1475-679x.2006.00196.x · Cited by 682 · see citing works

Greener Pastures and the Impact of Dynamic Institutional Preferences

Bennett, J. A., Sias, R. W., & Starks, L. T. (2003) · Review of Financial Studies · doi:10.1093/rfs/hhg040 · Cited by 668 · see citing works

ESG Shareholder Engagement and Downside Risk

Hoepner, A. G. F., Oikonomou, I., Sautner, Z., Starks, L. T., & Zhou, X. Y. (2016) · European Finance Review · doi:10.1093/rof/rfad034 · Cited by 639 · see citing works

The Wages of Social Responsibility

Statman, M., & Glushkov, D. (2009) · Financial Analysts Journal · doi:10.2469/faj.v65.n4.5 · Cited by 634 · see citing works

Executive Compensation and Short-Termist Behaviour in Speculative Markets

Bolton, P. G. M., Scheinkman, J. A., & Xiong, W. A. (2006) · The Review of Economic Studies · doi:10.1111/j.1467-937x.2006.00388.x · Cited by 597 · see citing works

Participation Costs and the Sensitivity of Fund Flows to Past Performance

Huang, J. C., Wei, K. D., & Yan, H. (2007) · The Journal of Finance · doi:10.1111/j.1540-6261.2007.01236.x · Cited by 528 · see citing works

Presidential Address: Sustainable Finance and ESG Issues— <i>Value</i> versus <i>Values</i>

STARKS, L. T. (2023) · The Journal of Finance · doi:10.1111/jofi.13255 · Cited by 474 · see citing works

Institutional investors and corporate social responsibility

Nofsinger, J. R., Sulaeman, J., & Varma, A. (2019) · Journal of Corporate Finance · doi:10.1016/j.jcorpfin.2019.07.012 · Cited by 353 · see citing works

A Theory of Socially Responsible Investment

Oehmke, M., & Opp, M. M. (2024) · The Review of Economic Studies · doi:10.1093/restud/rdae048 · Cited by 346 · see citing works

Investors' Horizons and the Amplification of Market Shocks

Cella, C., Ellul, A., & Giannetti, M. (2013) · Review of Financial Studies · doi:10.1093/rfs/hht023 · Cited by 330 · see citing works

Socially responsible investment funds: Investor reaction to current and past returns

Benson, K. L., & Humphrey, J. (2007) · Journal of Banking & Finance · doi:10.1016/j.jbankfin.2007.12.013 · Cited by 309 · see citing works

Managerial contracting and corporate social responsibility

Baron, D. P. (2007) · Journal of Public Economics · doi:10.1016/j.jpubeco.2007.05.008 · Cited by 290 · see citing works

Investor Horizons and Corporate Policies

Derrien, F., Kecskés, A., & Thesmar, D. (2013) · Journal of Financial and Quantitative Analysis · doi:10.1017/s0022109013000628 · Cited by 214 · see citing works

SHAREHOLDER TRADING PRACTICES AND CORPORATE INVESTMENT HORIZONS

Froot, K. A., Perold, A. F., & Stein, J. C. (1992) · Journal of applied corporate finance · doi:10.1111/j.1745-6622.1992.tb00489.x · Cited by 209 · see citing works

Factors Influencing Firms' Disclosures about Environmental Liabilities

Barth, M. E., McNichols, M. F., & Wilson, G. P. (1997) · Review of Accounting Studies · doi:10.1023/a:1018321610509 · Cited by 207 · see citing works

Does Shareholder Composition Matter? Evidence from the Market Reaction to Corporate Earnings Announcements

Hotchkiss, E., & Strickland, D. (2003) · The Journal of Finance · doi:10.1111/1540-6261.00574 · Cited by 204 · see citing works

Mandatory Portfolio Disclosure, Stock Liquidity, and Mutual Fund Performance

Agarwal, V., Mullally, K., Tang, Y., & Yang, B. (2015) · The Journal of Finance · doi:10.1111/jofi.12245 · Cited by 174 · see citing works

Investing for Impact

Chowdhry, B., Davies, S. W., & Waters, B. (2018) · Review of Financial Studies · doi:10.1093/rfs/hhy068 · Cited by 170 · see citing works

Mutual Fund Transparency and Corporate Myopia

Agarwal, V., Vashishtha, R., & Venkatachalam, M. (2016) · Review of Financial Studies · doi:10.1093/rfs/hhx125 · Cited by 148 · see citing works

Why Are Most Funds Open-End? Competition and the Limits of Arbitrage*

Stein, J. C. (2005) · The Quarterly Journal of Economics · doi:10.1162/0033553053327489 · Cited by 148 · see citing works

Global Pricing of Carbon-Transition Risk

Bolton, P. G. M., & Kacperczyk, M. T. (2021) · National Bureau of Economic Research · doi:10.3386/w28510 · Cited by 145 · see citing works

ES Risks and Shareholder Voice

He, Y. E., Kahraman, B., & Lowry, M. B. (2023) · Review of Financial Studies · doi:10.1093/rfs/hhad033 · Cited by 145 · see citing works

Is There a Cost to Being Socially Responsible in Investing?

Guerard, J. B. (1997) · The Journal of Investing · doi:10.3905/joi.1997.408416 · Cited by 139 · see citing works

The Effect of Three Mile Island on Electric Utility Stock Prices: A Note

Hill, J. M., & Schneeweis, T. (1983) · The Journal of Finance · doi:10.1111/j.1540-6261.1983.tb02297.x · Cited by 138 · see citing works

The Sustainability Footprint of Institutional InvestorsPreprint

Gibson, R., & Krueger, P. (2017) · SSRN Electronic Journal · doi:10.2139/ssrn.2918926 · Cited by 103 · see citing works

Insider Investment Horizon

Akbas, F., Jiang, C. H., & Koch, P. D. (2017) · The Journal of Finance · doi:10.1111/jofi.12878 · Cited by 89 · see citing works

Supply uncertainty of the bond investor base and the leverage of the firm

Massa, M., Yasuda, A., & Zhang, L. (2013) · Journal of Financial Economics · doi:10.1016/j.jfineco.2013.04.011 · Cited by 88 · see citing works

Asset Prices and Portfolios with Externalities

Baker, S. D., Hollifield, B., & Osambela, E. (2019) · European Finance Review · doi:10.1093/rof/rfac065 · Cited by 81 · see citing works

ESG News, Future Cash Flows, and Firm Value

Derrien, F., Krüger, P., Landier, A., & Yao, T. (2025) · The Journal of Finance · doi:10.1111/jofi.13498 · Cited by 52 · see citing works

Open-End Organizational Structures and Limits to Arbitrage

Giannetti, M., & Kahraman, B. (2017) · Review of Financial Studies · doi:10.1093/rfs/hhx057 · Cited by 50 · see citing works

Environmental, Social, and Governance Issues and the Financial Analysts Journal

Starks, L. T. (2021) · Financial Analysts Journal · doi:10.1080/0015198x.2021.1947024 · Cited by 39 · see citing works

Short-termism, Managerial Talent, and Firm Value

Thakor, R. T. (2020) · The Review of Corporate Finance Studies · doi:10.1093/rcfs/cfaa017 · Cited by 17 · see citing works

DO INVESTORS WANT FIRMS TO BE GREEN? ENVIRONMENTAL PERFORMANCE, OWNERSHIP AND STOCK MARKET LIQUIDITY.

Fernando, C. S., Sharfman, M. P., & Uysal, V. B. (2009) · Academy of Management Proceedings · doi:10.5465/ambpp.2009.44248481 · Cited by 16 · see citing works

The Importance of Climate Risks for Institutional Investors

Krueger, P., Sautner, Z., & Starks, L. T. (2020) · The Review of Financial Studies · doi:10.1093/rfs/hhz137 · Cited by 3,034 · see citing works

Firms and social responsibility: A review of ESG and CSR research in corporate finance

Gillan, S., Koch, A., & Starks, L. T. (2021) · Journal of Corporate Finance · doi:10.1016/j.jcorpfin.2021.101889 · Cited by 3,152 · see citing works

Corporate Green Bonds

Flammer, C. (2018) · Journal of Financial Economics · doi:10.1016/j.jfineco.2021.01.010 · Cited by 2,907 · see citing works

Mandatory CSR and sustainability reporting: economic analysis and literature review

Christensen, H. B., Hail, L., & Leuz, C. (2021) · Review of Accounting Studies · doi:10.1007/s11142-021-09609-5 · Cited by 1,923 · see citing works

Resiliency of Environmental and Social Stocks: An Analysis of the Exogenous COVID-19 Market Crash

Albuquerque, R., Koskinen, Y., Yang, S., & Zhang, C. (2020) · The Review of Corporate Finance Studies · doi:10.1093/rcfs/cfaa011 · Cited by 1,234 · see citing works

Do Shareholders Benefit from Green Bonds?

Tang, D. Y., & Zhang, Y. (2018) · Journal of Corporate Finance · doi:10.1016/j.jcorpfin.2018.12.001 · Cited by 1,235 · see citing works

Institutional shareholders and corporate social responsibility

Chen, T., Dong, H., & Lin, C. (2020) · Journal of Financial Economics · doi:10.1016/j.jfineco.2019.06.007 · Cited by 975 · see citing works

Climate Risk Disclosure and Institutional Investors

Ilhan, E., Krueger, P., Sautner, Z., & Starks, L. T. (2023) · Review of Financial Studies · doi:10.1093/rfs/hhad002 · Cited by 843 · see citing works

Socially responsible corporate customers

Dai, R., Liang, H., & Ng, L. (2020) · Journal of Financial Economics · doi:10.1016/j.jfineco.2020.01.003 · Cited by 673 · see citing works

Shareholder activism and firms' voluntary disclosure of climate change risks

Flammer, C., Toffel, M. W., & Viswanathan, K. (2021) · Strategic Management Journal · doi:10.1002/smj.3313 · Cited by 683 · see citing works

The Pollution Premium

Hsu, P.-H., Li, K., & Tsou, C.-Y. (2020) · The Journal of Finance · doi:10.1111/jofi.13217 · Cited by 660 · see citing works

Corporate ESG Profiles and Banking Relationships

Houston, J. F., & Shan, H. (2022) · The Review of Financial Studies · doi:10.1093/rfs/hhab125 · Cited by 560 · see citing works

Climate Change News Risk and Corporate Bond Returns

Huynh, T., & Xia, Y. (2020) · Journal of Financial and Quantitative Analysis · doi:10.1017/s0022109020000757 · Cited by 535 · see citing works

Financial Constraints and Corporate Environmental Policies

Xu, Q., & Kim, T.-H. (2018) · Review of Financial Studies · doi:10.1093/rfs/hhab056 · Cited by 492 · see citing works

Institutional investors and corporate social responsibility

Nofsinger, J. R., Sulaeman, J., & Varma, A. (2019) · Journal of Corporate Finance · doi:10.1016/j.jcorpfin.2019.07.012 · Cited by 353 · see citing works

Corporate Governance and Pollution Externalities of Public and Private Firms*

Shive, S. A., & Forster, M. M. (2020) · The Review of Financial Studies · doi:10.1093/rfs/hhz079 · Cited by 343 · see citing works

Corporate social responsibility and market efficiency: Evidence from ESG and misvaluation measures

Bofinger, Y., Heyden, K. J., & Rock, B. (2021) · Journal of Banking & Finance · doi:10.1016/j.jbankfin.2021.106322 · Cited by 319 · see citing works

Does the ESG Index Affect Stock Return? Evidence from the Eurostoxx50

Torre, M. L., Mango, F., Cafaro, A., & Leo, S. (2020) · Sustainability · doi:10.3390/su12166387 · Cited by 265 · see citing works

Sustainability or Greenwashing: Evidence from the Asset Market for Industrial Pollution

Duchin, R., Gao, J., & Xu, Q. (2024) · The Journal of Finance · doi:10.1111/jofi.13412 · Cited by 249 · see citing works

ESG government risk and international IPO underpricing

Baker, E. D., Boulton, T. J., Braga‐Alves, M. V., & Morey, M. R. (2021) · Journal of Corporate Finance · doi:10.1016/j.jcorpfin.2021.101913 · Cited by 224 · see citing works

Understanding the effects of Environment, Social, and Governance conduct on financial performance: Arguments for a process and integrated modelling approach

Lee, M. T., & Suh, I. (2022) · Sustainable Technology and Entrepreneurship · doi:10.1016/j.stae.2022.100004 · Cited by 200 · see citing works

Corporate Social Responsibility and Sustainable Finance: A Review of the LiteraturePreprint

Liang, H., & Renneboog, L. D. R. (2020) · SSRN Electronic Journal · doi:10.2139/ssrn.3698631 · Cited by 186 · see citing works

Firms’ ESG reputational risk and market longevity: A firm-level analysis for the United States

Fafaliou, I., Giaka, M., Konstantios, D., & Polemis, M. (2022) · Journal of Business Research · doi:10.1016/j.jbusres.2022.05.010 · Cited by 172 · see citing works

Investor Rewards to Climate Responsibility: Stock-Price Responses to the Opposite Shocks of the 2016 and 2020 U.S. Elections

Ramelli, S., Wagner, A. F., Zeckhauser, R., & Ziegler, A. (2021) · The Review of Corporate Finance Studies · doi:10.1093/rcfs/cfab010 · Cited by 180 · see citing works

Green bond issuance and corporate cost of capital

Zhang, R., Li, Y., & Liu, Y. (2021) · Pacific-Basin Finance Journal · doi:10.1016/j.pacfin.2021.101626 · Cited by 152 · see citing works

Institutional Investors and ESG Preferences

López‐de‐Silanes, F., McCahery, J. A., & Pudschedl, P. C. (2024) · Corporate Governance An International Review · doi:10.1111/corg.12583 · Cited by 149 · see citing works

Institutional ownership heterogeneity and ESG performance: Evidence from China

Wang, Y., Lin, Y. R., Fu, X., & Chen, S. (2022) · Finance research letters · doi:10.1016/j.frl.2022.103448 · Cited by 143 · see citing works

ESG, dividend payout policy and the moderating role of audit quality: Empirical evidence from Western Europe

Zahid, R. M. A., Țaran, A., Khan, M. K., & Chersan, I.-C. (2022) · Borsa Istanbul Review · doi:10.1016/j.bir.2022.10.012 · Cited by 134 · see citing works

Do all institutional investors care about corporate carbon emissions?

Safiullah, M., Alam, M. S., & Islam, M. S. (2022) · Energy Economics · doi:10.1016/j.eneco.2022.106376 · Cited by 140 · see citing works

Adoption of CSR and Sustainability Reporting Standards: Economic Analysis and ReviewPreprint

Christensen, H. B., Hail, L., & Leuz, C. (2019) · Social Science Research Network · doi:10.2139/ssrn.3427748 · Cited by 112 · see citing works

The Financially Material Effects of Mandatory Nonfinancial Disclosure

Gibbons, B. (2023) · Journal of Accounting Research · doi:10.1111/1475-679x.12499 · Cited by 120 · see citing works

Meet, beat, and pollute

Thomas, J., Yao, W., Zhang, F., & Zhu, W. (2022) · Review of Accounting Studies · doi:10.1007/s11142-022-09694-0 · Cited by 120 · see citing works

Climate Regulatory Risks and Corporate BondsPreprint

Seltzer, L., Starks, L. T., & Zhu, Q. (2020) · SSRN Electronic Journal · doi:10.2139/ssrn.3563271 · Cited by 119 · see citing works

Sustainable Finance: ESG/CSR, Firm Value, and Investment Returns*

Chang, X., Fu, K., Jin, Y., & Liem, P. F. (2022) · Asia-Pacific Journal of Financial Studies · doi:10.1111/ajfs.12379 · Cited by 111 · see citing works

Financial Constraints and Corporate Environmental PoliciesPreprint

Kim, T., & Xu, Q. (2018) · SSRN Electronic Journal · doi:10.2139/ssrn.3028768 · Cited by 110 · see citing works

Climate Change and Financial Stability

Brunetti, C., Dennis, B. N., Gates, D., Hancock, D., Ignell, D., Kiser, E. K., Kotta, G., Kovner, A., Rosen, R. J., & Tabor, N. K. (2021) · FEDS Notes · doi:10.17016/2380-7172.2893 · Cited by 108 · see citing works

Does ESG Affect the Stability of Dividend Policies in Europe?

Matos, P. V., Barros, V., & Sarmento, J. M. (2020) · Sustainability · doi:10.3390/su12218804 · Cited by 105 · see citing works

The Role of Mutual Funds in Corporate Social Responsibility

Li, Z. F., Patel, S., & Ramani, S. (2019) · Journal of Business Ethics · doi:10.1007/s10551-020-04618-x · Cited by 93 · see citing works

The effect of corporate sustainability performance on leverage adjustments

Ho, L., Bai, M., Lu, Y., & Qin, Y. (2021) · The British Accounting Review · doi:10.1016/j.bar.2021.100989 · Cited by 97 · see citing works

ESG Preference, Institutional Trading, and Stock Return Patterns

Cao, J., Titman, S. D., Zhan, X., & Zhang, W. E. (2020) · National Bureau of Economic Research · doi:10.3386/w28156 · Cited by 87 · see citing works

The Real Effects of Environmental Activist Investing

Naaraayanan, S. L., Sachdeva, K., & Sharma, V. (2026) · The Review of Financial Studies · doi:10.1093/rfs/hhag073 · Cited by 84 · see citing works

Firms’ sustainability, financial performance, and regulatory dynamics: Evidence from European firms

Agoraki, M. K., Giaka, M., Konstantios, D., & Patsika, V. (2022) · Journal of International Money and Finance · doi:10.1016/j.jimonfin.2022.102785 · Cited by 94 · see citing works

Environmental regulation and technological innovation: evidence from China

Mbanyele, W., & Wang, F. (2021) · Environmental Science and Pollution Research · doi:10.1007/s11356-021-14975-3 · Cited by 81 · see citing works

Shock or empowerment? Artificial intelligence technology and corporate ESG performance

Chen, J., Wang, N., Lin, T., Liu, B., & Hu, J. (2024) · Economic Analysis and Policy · doi:10.1016/j.eap.2024.08.004 · Cited by 78 · see citing works

Institutional Investors and Corporate Governance

Dasgupta, A., Fos, V., & Sautner, Z. (2020) · Foundations and Trends® in Finance · doi:10.1561/0500000056 · Cited by 108 · see citing works

Does ESG Impact Really Enhance Portfolio Profitability?

Cesarone, F., Martino, M. L., & Carleo, A. (2022) · Sustainability · doi:10.3390/su14042050 · Cited by 75 · see citing works

The Determinants of ESG Ratings: Rater Ownership Matters

Tang, D. Y., Yan, J., & Yao, Y. (2025) · Journal of Accounting Research · doi:10.1111/1475-679x.70016 · Cited by 73 · see citing works

Corporate Green Bonds

Flammer, C. (2018) · SSRN Electronic Journal · doi:10.2139/ssrn.3125518 · Cited by 2,901 · see citing works

Engaging Employees for the Long Run: Long-Term Investors and Employee-Related CSR

Garel, A., & Petit-Romec, A. (2020) · Journal of Business Ethics · doi:10.1007/s10551-020-04572-8 · Cited by 53 · see citing works

Credit spreads in the European green bond market: A daily analysis of the COVID‐19 pandemic impact

Cicchiello, A. F., Cotugno, M., Monferrà, S., & Perdichizzi, S. (2022) · Journal of International Financial Management and Accounting · doi:10.1111/jifm.12150 · Cited by 71 · see citing works

Economic Analysis of Widespread Adoption of CSR and Sustainability Reporting Standards

Christensen, H. B., Hail, L., & Leuz, C. (2018) · SSRN Electronic Journal · doi:10.2139/ssrn.3315673 · Cited by 67 · see citing works

Climate Risk Disclosure and Institutional InvestorsPreprint

Ilhan, E., Krueger, P., Sautner, Z., & Starks, L. T. (2019) · SSRN Electronic Journal · doi:10.2139/ssrn.3437178 · Cited by 66 · see citing works

ESG Reputational Risk, Corporate Payouts and Firm Value

Chasiotis, I., Gounopoulos, D., Konstantios, D., & Patsika, V. (2023) · British Journal of Management · doi:10.1111/1467-8551.12745 · Cited by 69 · see citing works

Does ownership influence ESG disclosure scores?

Doshi, M., Jain, R., Sharma, D., Mukherjee, D., & Kumar, S. (2023) · Research in International Business and Finance · doi:10.1016/j.ribaf.2023.102122 · Cited by 65 · see citing works

Climate Regulatory Risks and Corporate Bonds

Seltzer, L., Starks, L. T., & Zhu, Q. (2022) · SSRN Electronic Journal · doi:10.2139/ssrn.4090897 · Cited by 64 · see citing works

CEO career concerns and ESG investments

Kim, K., & Kim, T. (2023) · Finance research letters · doi:10.1016/j.frl.2023.103819 · Cited by 62 · see citing works

The Rise of State-Owned Investors: Sovereign Wealth Funds and Public Pension Funds

Megginson, W. L., Lopez, D., & Malik, A. I. (2021) · Annual Review of Financial Economics · doi:10.1146/annurev-financial-110420-090352 · Cited by 69 · see citing works

Fund ESG performance and downside risk: Evidence from China

Zhang, N., Zhang, Y., & Zong, Z. (2023) · International Review of Financial Analysis · doi:10.1016/j.irfa.2023.102526 · Cited by 56 · see citing works

Why do institutions like corporate social responsibility investments? evidence from horizon heterogeneity

Fu, X., Tang, T. J., & Yan, X. (2019) · Journal of Empirical Finance · doi:10.1016/j.jempfin.2019.01.010 · Cited by 53 · see citing works

China stock market liberalization and company ESG performance: The mediating effect of investor attention

Yin, Z., Li, X., Si, D.-K., & Li, X. (2023) · Economic Analysis and Policy · doi:10.1016/j.eap.2023.10.022 · Cited by 53 · see citing works

Valuation effect of ESG and its impact on capital structure: Evidence from Europe

Khan, M. A., Hassan, M. K., Maraghini, M. P., Biancone, P., & Valentinuz, G. (2024) · International Review of Economics & Finance · doi:10.1016/j.iref.2024.01.002 · Cited by 53 · see citing works

Institutional Investors and Corporate GovernancePreprint

Dasgupta, A., Fos, V., & Sautner, Z. (2020) · SSRN Electronic Journal · doi:10.2139/ssrn.3682800 · Cited by 48 · see citing works

Corporate Social Responsibility

Hong, H. G., & Shore, E. (2023) · Annual Review of Financial Economics · doi:10.1146/annurev-financial-111021-094347 · Cited by 47 · see citing works

Climate risk and corporate bond credit spreads

He, F., Ren, X., Wang, Y., & Lei, X. (2025) · Journal of International Money and Finance · doi:10.1016/j.jimonfin.2025.103297 · Cited by 47 · see citing works

What’s wrong with Pittsburgh? Delegated investors and liquidity concentration

Ghent, A. C. (2020) · Journal of Financial Economics · doi:10.1016/j.jfineco.2020.08.015 · Cited by 40 · see citing works

Demand for ESGPreprint

Baker, M. P., Egan, M., & Sarkar, S. K. (2022) · SSRN Electronic Journal · doi:10.2139/ssrn.4284023 · Cited by 42 · see citing works

Price effects after one-day abnormal returns in developed and emerging markets: ESG versus traditional indices

Plastun, A., Bouri, E. I., Gupta, R., & Ji, Q. (2021) · The North American Journal of Economics and Finance · doi:10.1016/j.najef.2021.101572 · Cited by 2 · see citing works

Investor Rewards to Climate Responsibility: Evidence from the 2016 Climate Policy Shock

Ramelli, S., Wagner, A., Zeckhauser, R., & Ziegler, A. (2018) · doi:10.3386/w25310 · Cited by 37 · see citing works

The Evolution of ESG Reports and the Role of Voluntary StandardsPreprint

Rouen, E., Sachdeva, K., & Yoon, A. S. (2022) · SSRN Electronic Journal · doi:10.2139/ssrn.4227934 · Cited by 37 · see citing works

Regularization methods for sparse ESG-valued multi-period portfolio optimization with return prediction using machine learning

Wu, Z., Liu, Y., Fei, Y., & Wang, X. (2023) · Expert Systems with Applications · doi:10.1016/j.eswa.2023.120850 · Cited by 36 · see citing works

Environmental, Social, and Governance Issues and the Financial Analysts Journal

Starks, L. T. (2021) · Financial Analysts Journal · doi:10.1080/0015198x.2021.1947024 · Cited by 39 · see citing works

An industry-guided review of responsible investing: Bridging the divide between academia and industry

Fan, J. H., Omura, A., & Roca, E. (2022) · Journal of Cleaner Production · doi:10.1016/j.jclepro.2022.131685 · Cited by 37 · see citing works

Environmental reputation and bank liquidity: Evidence from climate transition

Choi, D., Gam, Y. K., & Shin, H. (2022) · Journal of Business Finance &amp Accounting · doi:10.1111/jbfa.12669 · Cited by 37 · see citing works

Multiple paths to enhancing the resilience of project-based organizations from the perspective of CSR configuration: evidence from the Chinese construction industry

Ma, T., & Liu, Y. (2022) · Engineering Construction & Architectural Management · doi:10.1108/ecam-06-2022-0526 · Cited by 33 · see citing works

Standing Out from the Crowd via CSR Engagement: Evidence from Non-Fundamental-Driven Price Pressure

Gao, L., He, J., & Wu, J. (2023) · Journal of Financial and Quantitative Analysis · doi:10.1017/s0022109023000686 · Cited by 32 · see citing works

Modeling demand for ESG

Ahmed, M. F., Gao, Y., & Satchell, S. (2021) · European Journal of Finance · doi:10.1080/1351847x.2021.1924216 · Cited by 32 · see citing works

Is sustainability rating material to the market?

Economidou, C., Gounopoulos, D., Konstantios, D., & Tsiritakis, E. D. (2021) · Financial Management · doi:10.1111/fima.12406 · Cited by 37 · see citing works

Refining ESG Disclosure's Role in Corporate Economic, Environmental, and Social Sustainability Performance

Ray, S., & Hardi, I. (2024) · Indatu Journal of Management and Accounting · doi:10.60084/ijma.v2i1.144 · Cited by 30 · see citing works

Externalities of Responsible InvestmentsPreprint

Bisceglia, M., Piccolo, A., & Schneemeier, J. (2022) · SSRN Electronic Journal · doi:10.2139/ssrn.4183855 · Cited by 29 · see citing works

COVID‐19 and ESG preferences: Corporate bonds versus equities

Singh, A. (2021) · International Review of Finance · doi:10.1111/irfi.12351 · Cited by 28 · see citing works

The sustainability trap: Active fund managers between ESG investing and fund overpricing

Bofinger, Y., Heyden, K. J., Rock, B., & Bannier, C. E. (2021) · Finance research letters · doi:10.1016/j.frl.2021.102160 · Cited by 28 · see citing works

Responsible Investment and Stock Market Shocks: Short‐Term Insurance without Persistence

Eisenkopf, J., Juranek, S., & Uwe Walz, B. (2022) · British Journal of Management · doi:10.1111/1467-8551.12664 · Cited by 28 · see citing works

On ESG Investing: Heterogeneous Preferences, Information, and Asset PricesPreprint

Itay Goldstein, B., Kopytov, A., Shen, L., & Xiang, H. (2021) · SSRN Electronic Journal · doi:10.2139/ssrn.3823042 · Cited by 27 · see citing works

Green Tilts

Pástor, Ľ., Stambaugh, R. F., & Taylor, L. A. (2023) · National Bureau of Economic Research · doi:10.3386/w31320 · Cited by 27 · see citing works

Shifting Stakeholders Logics: Foreign Institutional Ownership and Corporate Social Responsibility

Cheng, X., Jiang, X., Kong, D., & Vigne, S. A. (2024) · Journal of Business Ethics · doi:10.1007/s10551-023-05587-7 · Cited by 27 · see citing works

Common Institutional Ownership and Corporate Carbon Emissions

Ji, Q., Lei, L., Wood, G., & Zhang, D. (2024) · British Journal of Management · doi:10.1111/1467-8551.12878 · Cited by 29 · see citing works

Investor Rewards to Climate Responsibility: Stock-Price Responses to the Opposite Shocks of the 2016 and 2020 U.S. ElectionsPreprint

Ramelli, S., Wagner, A. F., Zeckhauser, R., & Ziegler, A. (2018) · SSRN Electronic Journal · doi:10.2139/ssrn.3254526 · Cited by 25 · see citing works

What’s in a Shade? The Market Relevance of Green Bonds’ External Reviews

Ghitti, M., Gianfrate, G., López‐de‐Silanes, F., & Spinelli, M. (2023) · The British Accounting Review · doi:10.1016/j.bar.2023.101271 · Cited by 27 · see citing works

Geopolitical Risk and Corporate ESG Performance: Evidence from China

Kuai, Y., & Wang, H. (2024) · Emerging Markets Finance and Trade · doi:10.1080/1540496x.2024.2404176 · Cited by 24 · see citing works

Institutional Investors, Alternative Asset Managers, and ESG Preferences

McCahery, J. A., Pudschedl, P. C., & Steindl, M. (2022) · European Business Organization Law Review · doi:10.1007/s40804-022-00264-0 · Cited by 36 · see citing works

Environmental, social and governance scores in Europe: what drives financial performance for larger firms?

Gonçalves, T. C., Barros, V., & Avelar, J. V. (2023) · Economics and Business Letters · doi:10.17811/ebl.12.2.2023.121-131 · Cited by 24 · see citing works

The influence of Twitch and sustainability on the stock returns of video game companies: Before and after COVID-19

Chousa, J. P., Cabarcos, Á. L., Pérez-Pico, A. M., & Caby, J. (2023) · Journal of Business Research · doi:10.1016/j.jbusres.2022.113620 · Cited by 23 · see citing works

Looking back and looking forward: A scientometric analysis of the evolution of corporate sustainability research over 47 years

In, S. Y., Lee, Y. J., & Eccles, R. G. (2023) · Corporate Social Responsibility and Environmental Management · doi:10.1002/csr.2679 · Cited by 22 · see citing works

Firm ownership and ESG performance in European agri‐food companies: The mediating effect of risk‐taking and time horizon

Gega, M., Höhler, J., Bijman, J., & Lansink, A. O. (2024) · Corporate Social Responsibility and Environmental Management · doi:10.1002/csr.3008 · Cited by 22 · see citing works

Is ESG disclosure creating value propositions for the firms? An SLR and meta-analysis of how ESG affects the financials of a firm

Kalyani, S., & Mondal, R. (2024) · Corporate Ownership and Control · doi:10.22495/cocv21i1art9 · Cited by 22 · see citing works

ESG Rating Events and Stock Market ReactionsPreprint

Glück, M., H&uuml;bel, B., & Scholz, H. (2021) · SSRN Electronic Journal · doi:10.2139/ssrn.3803254 · Cited by 22 · see citing works

Adaptive management reporting system in inter-organizational relations of agricultural enterprises according to ESG principles

Khoruzhy, L. I., Katkov, Y. N., Romanova, A. A., Katkova, E. A., & Dzhikiya, M. K. (2022) · Journal of Infrastructure Policy and Development · doi:10.24294/jipd.v6i2.1649 · Cited by 21 · see citing works

Looking at socially responsible investment strategies through the lenses of the global ETF industry

Fiordelisi, F., Galloppo, G., Lattanzio, G., & Paimanova, V. (2023) · Journal of International Money and Finance · doi:10.1016/j.jimonfin.2023.102917 · Cited by 21 · see citing works

How important is green awareness in energy investment decisions? An environmentally-based rebalancing portfolio study

Esparcia, C., Diaz, A., & Alonso, D. (2023) · Energy Economics · doi:10.1016/j.eneco.2023.107174 · Cited by 21 · see citing works

Non-Governmental Organization (NGO) Tweets: Do Shareholders Care?

Dupire, M., Filbien, J.-Y., & M’Zali, B. (2021) · Business & Society · doi:10.1177/0007650320985204 · Cited by 20 · see citing works

Investment horizons and ESG decoupling: Distinct roles of long-term and short-term institutional investors

Eliwa, Y., & Elmaghrabi, M. E. (2025) · Economics Letters · doi:10.1016/j.econlet.2025.112207 · Cited by 26 · see citing works

Betting against ESG: Evidence from institutional short position disclosures

Helminen, E. (2022) · Aaltodoc (Aalto University)

Institutional Investor Heterogeneity and ESG Profiles: Evidence from TurkiyePreprint

Avci, S. B. (2026) · SSRN Electronic Journal · doi:10.2139/ssrn.6568699

What drives corporate ESG? Disentangling the importance of investors and managers

Bermejo, V., Rizzo, A. E., & Zakriya, M. (2026) · Journal of Financial Intermediation · doi:10.1016/j.jfi.2026.101194

Institutional trading and ESG controversies

Lai, H.-A. T., Wee, M., Yang, J., & Yu, J. (2025) · Journal of financial markets · doi:10.1016/j.finmar.2025.101003 · Cited by 3 · see citing works